UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 25, 2005
ACE SECURITIES CORP. HOME EQUITY LOAN TRUST
Asset Backed Pass-Through Certificates, Series 2005-AS1 Trust
(Exact name of registrant as specified in its charter)
New York (governing law of 333-123741-10 54-2186652
Pooling and Servicing Agreement) (Commission 54-2186653
(State or other File Number) 54-2186654
jurisdiction IRS EIN
of Incorporation)
c/o Wells Fargo Bank, N.A.
9062 Old Annapolis Road
Columbia, MD 21045
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (410) 884-2000
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
of the following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act(17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act(17 CFR 240.13e-4(c))
ITEM 8.01 Other Events
On November 25, 2005 a distribution was made to holders of ACE SECURITIES CORP.
HOME EQUITY LOAN TRUST, Asset Backed Pass-Through Certificates, Series
2005-AS1 Trust.
ITEM 9.01 Financial Statements and Exhibits
(c) Exhibits
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of
Asset Backed Pass-Through Certificates,
Series 2005-AS1 Trust, relating to the
November 25, 2005 distribution.
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ACE SECURITIES CORP. HOME EQUITY LOAN TRUST
Asset Backed Pass-Through Certificates, Series 2005-AS1 Trust
(Registrant)
By: Wells Fargo Bank, N.A. as Securities Administrator
By: /s/ Beth Belfield as Officer
By: Beth Belfield as Officer
Date: 11/27/2005
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Asset Backed
Pass-Through Certificates, Series 2005-AS1 Trust,
relating to the November 25, 2005 distribution.
EX-99.1
ACE Securities Corporation
Asset Backed Pass-Through Certificates
Record Date: 10/31/2005
Distribution Date: 11/25/2005
ACE Securities Corporation
Asset Backed Pass-Through Certificates
Series ACE 2005-ASAP1
Contact: Customer Service - CTSLink
Wells Fargo Bank, N.A.
Securities Administration Services
7485 New Horizon Way
Frederick, MD 21703
www.ctslink.com
Telephone: (301) 815-6600
Fax: (301) 815-6660
Certificateholder Distribution Summary
Certificate Certificate Beginning
Class Pass-Through Certificate Interest
Class CUSIP Description Rate Balance Distribution
<s> <c> <c> <c> <c> <c>
A-1 004421SY0 SEN 4.34125% 199,395,000.00 601,127.46
A-2A 004421SZ7 SEN 4.20125% 98,403,000.00 287,094.17
A-2B 004421TA1 SEN 4.29125% 66,658,000.00 198,643.15
A-2C 004421TB9 SEN 4.35125% 12,534,000.00 37,874.01
A-2D 004421TC7 SEN 4.43125% 28,174,000.00 86,698.64
M-1 004421TD5 MEZ 4.76125% 64,303,000.00 212,612.96
M-2 004421TE3 MEZ 4.78125% 16,207,000.00 53,812.30
M-3 004421TF0 MEZ 4.83125% 4,444,000.00 14,909.77
M-4 004421TG8 MEZ 5.18125% 9,149,000.00 32,918.93
M-5 004421TH6 MEZ 5.48125% 5,489,000.00 20,893.46
M-6 004421TJ2 MEZ 5.63125% 3,398,000.00 13,288.19
M-7 004421TK9 MEZ 6.08125% 4,967,000.00 20,976.09
M-8 004421TL7 MEZ 6.08125% 2,875,000.00 12,141.38
M-9 004421TM5 MEZ 6.08125% 2,614,000.00 11,039.16
P ACE05AS1P SEN 0.00000% 100.00 157,053.88
CE ACE05ASCE SUB 0.00000% 4,182,484.00 838,983.63
R-1 ACE05ASR1 SEN 0.00000% 0.00 0.00
Totals 522,792,584.00 2,600,067.18
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Principal Realized Certificate Total Realized
Class Distribution Loss Balance Distribution Losses
<s> <c> <c> <c> <c>
A-1 4,748,926.13 0.00 194,646,073.87 5,350,053.59 0.00
A-2A 6,362,311.75 0.00 92,040,688.25 6,649,405.92 0.00
A-2B 0.00 0.00 66,658,000.00 198,643.15 0.00
A-2C 0.00 0.00 12,534,000.00 37,874.01 0.00
A-2D 0.00 0.00 28,174,000.00 86,698.64 0.00
M-1 0.00 0.00 64,303,000.00 212,612.96 0.00
M-2 0.00 0.00 16,207,000.00 53,812.30 0.00
M-3 0.00 0.00 4,444,000.00 14,909.77 0.00
M-4 0.00 0.00 9,149,000.00 32,918.93 0.00
M-5 0.00 0.00 5,489,000.00 20,893.46 0.00
M-6 0.00 0.00 3,398,000.00 13,288.19 0.00
M-7 0.00 0.00 4,967,000.00 20,976.09 0.00
M-8 0.00 0.00 2,875,000.00 12,141.38 0.00
M-9 0.00 0.00 2,614,000.00 11,039.16 0.00
P 0.00 0.00 100.00 157,053.88 0.00
CE 0.00 0.00 4,182,340.67 838,983.63 0.00
R-1 0.00 0.00 0.00 0.00 0.00
Totals 11,111,237.88 0.00 511,681,202.79 13,711,305.06 0.00
<FN>
All distributions required by the Pooling and Servicing Agreement have been calculated by the
Certificate Administrator on behalf of the Trustee.
</FN>
Principal Distribution Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal Realized
Class Amount Balance Distribution Distribution Accretion Loss (1)
<s> <c> <c> <c> <c> <c> <c>
A-1 199,395,000.00 199,395,000.00 0.00 4,748,926.13 0.00 0.00
A-2A 98,403,000.00 98,403,000.00 0.00 6,362,311.75 0.00 0.00
A-2B 66,658,000.00 66,658,000.00 0.00 0.00 0.00 0.00
A-2C 12,534,000.00 12,534,000.00 0.00 0.00 0.00 0.00
A-2D 28,174,000.00 28,174,000.00 0.00 0.00 0.00 0.00
M-1 64,303,000.00 64,303,000.00 0.00 0.00 0.00 0.00
M-2 16,207,000.00 16,207,000.00 0.00 0.00 0.00 0.00
M-3 4,444,000.00 4,444,000.00 0.00 0.00 0.00 0.00
M-4 9,149,000.00 9,149,000.00 0.00 0.00 0.00 0.00
M-5 5,489,000.00 5,489,000.00 0.00 0.00 0.00 0.00
M-6 3,398,000.00 3,398,000.00 0.00 0.00 0.00 0.00
M-7 4,967,000.00 4,967,000.00 0.00 0.00 0.00 0.00
M-8 2,875,000.00 2,875,000.00 0.00 0.00 0.00 0.00
M-9 2,614,000.00 2,614,000.00 0.00 0.00 0.00 0.00
P 100.00 100.00 0.00 0.00 0.00 0.00
CE 4,182,484.00 4,182,484.00 0.00 0.00 0.00 0.00
R-1 0.00 0.00 0.00 0.00 0.00 0.00
Totals 522,792,584.00 522,792,584.00 0.00 11,111,237.88 0.00 0.00
<FN>
(1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Principal Distribution Statement (continued)
Total Ending Ending Total
Principal Certificate Certificate Principal
Class Reduction Balance Percentage Distribution
<s> <c> <c> <c> <c>
A-1 4,748,926.13 194,646,073.87 0.97618332 4,748,926.13
A-2A 6,362,311.75 92,040,688.25 0.93534433 6,362,311.75
A-2B 0.00 66,658,000.00 1.00000000 0.00
A-2C 0.00 12,534,000.00 1.00000000 0.00
A-2D 0.00 28,174,000.00 1.00000000 0.00
M-1 0.00 64,303,000.00 1.00000000 0.00
M-2 0.00 16,207,000.00 1.00000000 0.00
M-3 0.00 4,444,000.00 1.00000000 0.00
M-4 0.00 9,149,000.00 1.00000000 0.00
M-5 0.00 5,489,000.00 1.00000000 0.00
M-6 0.00 3,398,000.00 1.00000000 0.00
M-7 0.00 4,967,000.00 1.00000000 0.00
M-8 0.00 2,875,000.00 1.00000000 0.00
M-9 0.00 2,614,000.00 1.00000000 0.00
P 0.00 100.00 1.00000000 0.00
CE 0.00 4,182,340.67 0.99996573 0.00
R-1 0.00 0.00 0.00000000 0.00
Totals 11,111,237.88 511,681,202.79 0.97874610 11,111,237.88
Principal Distribution Factors Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal
Class (2) Amount Balance Distribution Distribution Accretion
<s> <c> <c> <c> <c> <c>
A-1 199,395,000.00 1000.00000000 0.00000000 23.81667610 0.00000000
A-2A 98,403,000.00 1000.00000000 0.00000000 64.65566853 0.00000000
A-2B 66,658,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-2C 12,534,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-2D 28,174,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-1 64,303,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-2 16,207,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-3 4,444,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-4 9,149,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-5 5,489,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-6 3,398,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-7 4,967,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-8 2,875,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-9 2,614,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000
CE 4,182,484.00 1000.00000000 0.00000000 0.00000000 0.00000000
R-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
(2) All Classes are Per 1,000 Denomination
</FN>
Principal Distribution Factors Statement (continued)
Total Ending Ending Total
Realized Principal Certificate Certificate Principal
Class Loss (3) Reduction Balance Percentage Distribution
<s> <c> <c> <c> <c> <c>
A-1 0.00000000 23.81667610 976.18332390 0.97618332 23.81667610
A-2A 0.00000000 64.65566853 935.34433147 0.93534433 64.65566853
A-2B 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-2C 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-2D 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-8 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
M-9 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
CE 0.00000000 0.00000000 999.96573089 0.99996573 0.00000000
R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
(3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Interest Distribution Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class Amount Rate Balance Interest Shortfall Shortfall
<s> <c> <c> <c> <c> <c> <c>
A-1 199,395,000.00 4.34125% 199,395,000.00 601,127.46 0.00 0.00
A-2A 98,403,000.00 4.20125% 98,403,000.00 287,094.17 0.00 0.00
A-2B 66,658,000.00 4.29125% 66,658,000.00 198,643.15 0.00 0.00
A-2C 12,534,000.00 4.35125% 12,534,000.00 37,874.01 0.00 0.00
A-2D 28,174,000.00 4.43125% 28,174,000.00 86,698.64 0.00 0.00
M-1 64,303,000.00 4.76125% 64,303,000.00 212,612.96 0.00 0.00
M-2 16,207,000.00 4.78125% 16,207,000.00 53,812.30 0.00 0.00
M-3 4,444,000.00 4.83125% 4,444,000.00 14,909.77 0.00 0.00
M-4 9,149,000.00 5.18125% 9,149,000.00 32,918.93 0.00 0.00
M-5 5,489,000.00 5.48125% 5,489,000.00 20,893.46 0.00 0.00
M-6 3,398,000.00 5.63125% 3,398,000.00 13,288.19 0.00 0.00
M-7 4,967,000.00 6.08125% 4,967,000.00 20,976.09 0.00 0.00
M-8 2,875,000.00 6.08125% 2,875,000.00 12,141.38 0.00 0.00
M-9 2,614,000.00 6.08125% 2,614,000.00 11,039.16 0.00 0.00
P 100.00 0.00000% 100.00 0.00 0.00 0.00
CE 4,182,484.00 0.00000% 522,792,584.23 0.00 0.00 0.00
R-1 0.00 0.00000% 0.00 0.00 0.00 0.00
Totals 522,792,584.00 1,604,029.67 0.00 0.00
Interest Distribution Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (4) Distribution Shortfall Balance
<s> <c> <c> <c> <c> <c>
A-1 0.00 0.00 601,127.46 0.00 194,646,073.87
A-2A 0.00 0.00 287,094.17 0.00 92,040,688.25
A-2B 0.00 0.00 198,643.15 0.00 66,658,000.00
A-2C 0.00 0.00 37,874.01 0.00 12,534,000.00
A-2D 0.00 0.00 86,698.64 0.00 28,174,000.00
M-1 0.00 0.00 212,612.96 0.00 64,303,000.00
M-2 0.00 0.00 53,812.30 0.00 16,207,000.00
M-3 0.00 0.00 14,909.77 0.00 4,444,000.00
M-4 0.00 0.00 32,918.93 0.00 9,149,000.00
M-5 0.00 0.00 20,893.46 0.00 5,489,000.00
M-6 0.00 0.00 13,288.19 0.00 3,398,000.00
M-7 0.00 0.00 20,976.09 0.00 4,967,000.00
M-8 0.00 0.00 12,141.38 0.00 2,875,000.00
M-9 0.00 0.00 11,039.16 0.00 2,614,000.00
P 0.00 0.00 157,053.88 0.00 100.00
CE 0.00 0.00 838,983.63 0.00 511,681,202.79
R-1 0.00 0.00 0.00 0.00 0.00
Totals 0.00 0.00 2,600,067.18 0.00
<FN>
(4) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
Interest Distribution Factors Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class (5) Amount Rate Balance Interest Shortfall Shortfall
<s> <c> <c> <c> <c> <c> <c>
A-1 199,395,000.00 4.34125% 1000.00000000 3.01475694 0.00000000 0.00000000
A-2A 98,403,000.00 4.20125% 1000.00000000 2.91753473 0.00000000 0.00000000
A-2B 66,658,000.00 4.29125% 1000.00000000 2.98003465 0.00000000 0.00000000
A-2C 12,534,000.00 4.35125% 1000.00000000 3.02170177 0.00000000 0.00000000
A-2D 28,174,000.00 4.43125% 1000.00000000 3.07725705 0.00000000 0.00000000
M-1 64,303,000.00 4.76125% 1000.00000000 3.30642365 0.00000000 0.00000000
M-2 16,207,000.00 4.78125% 1000.00000000 3.32031221 0.00000000 0.00000000
M-3 4,444,000.00 4.83125% 1000.00000000 3.35503375 0.00000000 0.00000000
M-4 9,149,000.00 5.18125% 1000.00000000 3.59809050 0.00000000 0.00000000
M-5 5,489,000.00 5.48125% 1000.00000000 3.80642376 0.00000000 0.00000000
M-6 3,398,000.00 5.63125% 1000.00000000 3.91059152 0.00000000 0.00000000
M-7 4,967,000.00 6.08125% 1000.00000000 4.22309040 0.00000000 0.00000000
M-8 2,875,000.00 6.08125% 1000.00000000 4.22308870 0.00000000 0.00000000
M-9 2,614,000.00 6.08125% 1000.00000000 4.22309105 0.00000000 0.00000000
P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
CE 4,182,484.00 0.00000% 124995.71647614 0.00000000 0.00000000 0.00000000
R-1 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
(5) All Classes are Per 1,000 Denomination
</FN>
Interest Distribution Factors Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (6) Distribution Shortfall Balance
<s> <c> <c> <c> <c> <c>
A-1 0.00000000 0.00000000 3.01475694 0.00000000 976.18332390
A-2A 0.00000000 0.00000000 2.91753473 0.00000000 935.34433147
A-2B 0.00000000 0.00000000 2.98003465 0.00000000 1000.00000000
A-2C 0.00000000 0.00000000 3.02170177 0.00000000 1000.00000000
A-2D 0.00000000 0.00000000 3.07725705 0.00000000 1000.00000000
M-1 0.00000000 0.00000000 3.30642365 0.00000000 1000.00000000
M-2 0.00000000 0.00000000 3.32031221 0.00000000 1000.00000000
M-3 0.00000000 0.00000000 3.35503375 0.00000000 1000.00000000
M-4 0.00000000 0.00000000 3.59809050 0.00000000 1000.00000000
M-5 0.00000000 0.00000000 3.80642376 0.00000000 1000.00000000
M-6 0.00000000 0.00000000 3.91059152 0.00000000 1000.00000000
M-7 0.00000000 0.00000000 4.22309040 0.00000000 1000.00000000
M-8 0.00000000 0.00000000 4.22308870 0.00000000 1000.00000000
M-9 0.00000000 0.00000000 4.22309105 0.00000000 1000.00000000
P 0.00000000 0.00000000 1570538.80000000 0.00000000 1000.00000000
CE 0.00000000 0.00000000 200.59458207 0.00000000 122339.06998568
R-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
(6) Amount Does Not Include Excess Special Hazard, Bankruptcy,or Fraud Losses Unless
Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
</FN>
CERTIFICATEHOLDER ACCOUNT STATEMENT
CERTIFICATE ACCOUNT
<s> <c>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 13,731,038.88
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 53,023.20
Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00
Prepayment Penalties 157,053.88
Total Deposits 13,941,115.96
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 229,810.90
Payment of Interest and Principal 13,711,305.06
Total Withdrawals (Pool Distribution Amount) 13,941,115.96
Ending Balance 0.00
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<s> <c>
Total Prepayment/Curtailment Interest Shortfall 0.00
Servicing Fee Support 0.00
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
SERVICING FEES
<s> <c>
Gross Servicing Fee 217,830.24
Credit Risk Manager Fee - Clayton Fixed Income Services 6,534.91
Master Servicing Fee - Wells Fargo 5,445.75
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 229,810.90
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
<s> <c> <c> <c> <c>
Reserve Fund 0.00 0.00 0.00 0.00
LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s> <c> <c> <c> <c> <c>
No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 52 0 0 0 52
6,701,064.17 0.00 0.00 0.00 6,701,064.17
60 Days 15 0 0 0 15
1,888,091.64 0.00 0.00 0.00 1,888,091.64
90 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
120 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
150 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
180+ Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 67 0 0 0 67
8,589,155.81 0.00 0.00 0.00 8,589,155.81
No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 1.654997% 0.000000% 0.000000% 0.000000% 1.654997%
1.309253% 0.000000% 0.000000% 0.000000% 1.309253%
60 Days 0.477403% 0.000000% 0.000000% 0.000000% 0.477403%
0.368895% 0.000000% 0.000000% 0.000000% 0.368895%
90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 2.132400% 0.000000% 0.000000% 0.000000% 2.132400%
1.678148% 0.000000% 0.000000% 0.000000% 1.678148%
Delinquency Status By Groups
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
Gr. 1 - Sub Gr. 1 No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 13 0 0 0 13
627,833.68 0.00 0.00 0.00 627,833.68
60 Days 2 0 0 0 2
47,763.10 0.00 0.00 0.00 47,763.10
90 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
120 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
150 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
180+ Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 15 0 0 0 15
675,596.78 0.00 0.00 0.00 675,596.78
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 2.697095% 0.000000% 0.000000% 0.000000% 2.697095%
2.220636% 0.000000% 0.000000% 0.000000% 2.220636%
60 Days 0.414938% 0.000000% 0.000000% 0.000000% 0.414938%
0.168937% 0.000000% 0.000000% 0.000000% 0.168937%
90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 3.112033% 0.000000% 0.000000% 0.000000% 3.112033%
2.389574% 0.000000% 0.000000% 0.000000% 2.389574%
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
Gr. 1 - Sub Gr. 2 No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 30 0 0 0 30
4,148,386.00 0.00 0.00 0.00 4,148,386.00
60 Days 9 0 0 0 9
844,629.98 0.00 0.00 0.00 844,629.98
90 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
120 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
150 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
180+ Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 39 0 0 0 39
4,993,015.98 0.00 0.00 0.00 4,993,015.98
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 1.953125% 0.000000% 0.000000% 0.000000% 1.953125%
1.849081% 0.000000% 0.000000% 0.000000% 1.849081%
60 Days 0.585938% 0.000000% 0.000000% 0.000000% 0.585938%
0.376481% 0.000000% 0.000000% 0.000000% 0.376481%
90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 2.539063% 0.000000% 0.000000% 0.000000% 2.539063%
2.225562% 0.000000% 0.000000% 0.000000% 2.225562%
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
Gr. 2 - Sub Gr. 3 No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 1 0 0 0 1
83,831.33 0.00 0.00 0.00 83,831.33
60 Days 1 0 0 0 1
98,287.86 0.00 0.00 0.00 98,287.86
90 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
120 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
150 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
180+ Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 2 0 0 0 2
182,119.19 0.00 0.00 0.00 182,119.19
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.327869% 0.000000% 0.000000% 0.000000% 0.327869%
0.284636% 0.000000% 0.000000% 0.000000% 0.284636%
60 Days 0.327869% 0.000000% 0.000000% 0.000000% 0.327869%
0.333720% 0.000000% 0.000000% 0.000000% 0.333720%
90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 0.655738% 0.000000% 0.000000% 0.000000% 0.655738%
0.618356% 0.000000% 0.000000% 0.000000% 0.618356%
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s>
Gr. 2 - Sub Gr. 4 No of Loans No of Loans No of Loans No of Loans No of Loans
Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance
0-29 Days 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 8 0 0 0 8
1,841,013.16 0.00 0.00 0.00 1,841,013.16
60 Days 3 0 0 0 3
897,410.70 0.00 0.00 0.00 897,410.70
90 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
120 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
150 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
180+ Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 11 0 0 0 11
2,738,423.86 0.00 0.00 0.00 2,738,423.86
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.976801% 0.000000% 0.000000% 0.000000% 0.976801%
0.801311% 0.000000% 0.000000% 0.000000% 0.801311%
60 Days 0.366300% 0.000000% 0.000000% 0.000000% 0.366300%
0.390603% 0.000000% 0.000000% 0.000000% 0.390603%
90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 1.343101% 0.000000% 0.000000% 0.000000% 1.343101%
1.191915% 0.000000% 0.000000% 0.000000% 1.191915%
OTHER INFORMATION
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 53,023.20
REO Detail - All Mortgage Loans in REO during Current Period
Summary 12 Month REO History*
New REO Loans Month REO Percentage
<s> <c> <s> <c>
Loans in REO 0 Dec-04 0.000%
Original Principal Balance 0.00 Jan-05 0.000%
Current Principal Balance 0.00 Feb-05 0.000%
Mar-05 0.000%
Current REO Total Apr-05 0.000%
Loans in REO 0 May-05 0.000%
Original Principal Balance 0.00 Jun-05 0.000%
Current Principal Balance 0.00 Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.000%
Oct-05 0.000%
Nov-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
Gr. 1 - Sub Gr. 1 12 Month REO History*
New REO Loans Month REO Percentage
<s> <c> <s> <c>
Loans in REO 0 Dec-04 0.000%
Original Principal Balance 0.00 Jan-05 0.000%
Current Principal Balance 0.00 Feb-05 0.000%
Mar-05 0.000%
Current REO Total Apr-05 0.000%
Loans in REO 0 May-05 0.000%
Original Principal Balance 0.00 Jun-05 0.000%
Current Principal Balance 0.00 Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.000%
Oct-05 0.000%
Nov-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
Gr. 1 - Sub Gr. 2 12 Month REO History*
New REO Loans Month REO Percentage
<s> <c> <s> <c>
Loans in REO 0 Dec-04 0.000%
Original Principal Balance 0.00 Jan-05 0.000%
Current Principal Balance 0.00 Feb-05 0.000%
Mar-05 0.000%
Current REO Total Apr-05 0.000%
Loans in REO 0 May-05 0.000%
Original Principal Balance 0.00 Jun-05 0.000%
Current Principal Balance 0.00 Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.000%
Oct-05 0.000%
Nov-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
Gr. 2 - Sub Gr. 3 12 Month REO History*
New REO Loans Month REO Percentage
<s> <c> <s> <c>
Loans in REO 0 Dec-04 0.000%
Original Principal Balance 0.00 Jan-05 0.000%
Current Principal Balance 0.00 Feb-05 0.000%
Mar-05 0.000%
Current REO Total Apr-05 0.000%
Loans in REO 0 May-05 0.000%
Original Principal Balance 0.00 Jun-05 0.000%
Current Principal Balance 0.00 Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.000%
Oct-05 0.000%
Nov-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
Gr. 2 - Sub Gr. 4 12 Month REO History*
New REO Loans Month REO Percentage
<s> <c> <s> <c>
Loans in REO 0 Dec-04 0.000%
Original Principal Balance 0.00 Jan-05 0.000%
Current Principal Balance 0.00 Feb-05 0.000%
Mar-05 0.000%
Current REO Total Apr-05 0.000%
Loans in REO 0 May-05 0.000%
Original Principal Balance 0.00 Jun-05 0.000%
Current Principal Balance 0.00 Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.000%
Oct-05 0.000%
Nov-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
REO Loan Detail - All Mortgage Loans in REO during Current Period
Month
Loan First Original
Loan Entered Payment LTV at Principal
Group Number REO Date State Origination Balance
<s> <c> <c> <c> <c> <c> <c>
No REO loans this period.
REO Loan Detail - All Mortgage Loans in REO during Current Period (continued)
Current Paid Current Approximate
Loan Principal To Months Loan Delinquent
Group Number Balance Date Delinquent Rate Interest
<s> <c> <c> <c> <c> <c> <c>
No REO loans this period.
Foreclosure Detail - All Mortgage Loans in Foreclosure during Current Period
Summary 12 Month Foreclosure History*
New Foreclosure Loans Month Foreclosure Percentage
<s> <c> <s> <c>
Loans in Foreclosure 0 Dec-04 0.000%
Original Principal Balance 0.00 Jan-05 0.000%
Current Principal Balance 0.00 Feb-05 0.000%
Mar-05 0.000%
Current Foreclosure Total Apr-05 0.000%
Loans in Foreclosure 0 May-05 0.000%
Original Principal Balance 0.00 Jun-05 0.000%
Current Principal Balance 0.00 Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.000%
Oct-05 0.000%
Nov-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
Gr. 1 - Sub Gr. 1 12 Month Foreclosure History*
New Foreclosure Loans Month Foreclosure Percentage
<s> <c> <s> <c>
Loans in Foreclosure 0 Dec-04 0.000%
Original Principal Balance 0.00 Jan-05 0.000%
Current Principal Balance 0.00 Feb-05 0.000%
Mar-05 0.000%
Current Foreclosure Total Apr-05 0.000%
Loans in Foreclosure 0 May-05 0.000%
Original Principal Balance 0.00 Jun-05 0.000%
Current Principal Balance 0.00 Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.000%
Oct-05 0.000%
Nov-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
Gr. 1 - Sub Gr. 2 12 Month Foreclosure History*
New Foreclosure Loans Month Foreclosure Percentage
<s> <c> <s> <c>
Loans in Foreclosure 0 Dec-04 0.000%
Original Principal Balance 0.00 Jan-05 0.000%
Current Principal Balance 0.00 Feb-05 0.000%
Mar-05 0.000%
Current Foreclosure Total Apr-05 0.000%
Loans in Foreclosure 0 May-05 0.000%
Original Principal Balance 0.00 Jun-05 0.000%
Current Principal Balance 0.00 Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.000%
Oct-05 0.000%
Nov-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
Gr. 2 - Sub Gr. 3 12 Month Foreclosure History*
New Foreclosure Loans Month Foreclosure Percentage
<s> <c> <s> <c>
Loans in Foreclosure 0 Dec-04 0.000%
Original Principal Balance 0.00 Jan-05 0.000%
Current Principal Balance 0.00 Feb-05 0.000%
Mar-05 0.000%
Current Foreclosure Total Apr-05 0.000%
Loans in Foreclosure 0 May-05 0.000%
Original Principal Balance 0.00 Jun-05 0.000%
Current Principal Balance 0.00 Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.000%
Oct-05 0.000%
Nov-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
Gr. 2 - Sub Gr. 4 12 Month Foreclosure History*
New Foreclosure Loans Month Foreclosure Percentage
<s> <c> <s> <c>
Loans in Foreclosure 0 Dec-04 0.000%
Original Principal Balance 0.00 Jan-05 0.000%
Current Principal Balance 0.00 Feb-05 0.000%
Mar-05 0.000%
Current Foreclosure Total Apr-05 0.000%
Loans in Foreclosure 0 May-05 0.000%
Original Principal Balance 0.00 Jun-05 0.000%
Current Principal Balance 0.00 Jul-05 0.000%
Aug-05 0.000%
Sep-05 0.000%
Oct-05 0.000%
Nov-05 0.000%
*The text reported in the above table is presented graphically
on the monthly bond remittance report. The monthly bond
remittance report can be viewed online at www.ctslink.com.
Foreclosure Loan Detail - All Mortgage Loans in Foreclosure during Current Period
Month
Loan First Original
Loan Entered Payment LTV at Principal
Group Number FC Date State Origination Balance
<s> <c> <c> <c> <c> <c> <c>
No Foreclosure loans this period.
Foreclosure Loan Detail - All Mortgage Loans in Foreclosure during Current Period (continued)
Current Paid Current Approximate
Loan Principal To Months Loan Delinquent
Group Number Balance Date Delinquent Rate Interest
<s> <c> <c> <c> <c> <c> <c>
No Foreclosure loans this period.
COLLATERAL STATEMENT
Collateral Description Mixed Fixed & Arm
Weighted Average Gross Coupon 6.525403%
Weighted Average Net Coupon 6.025403%
Weighted Average Pass-Through Rate 5.997903%
Weighted Average Maturity(Stepdown Calculation) 346
Beginning Scheduled Collateral Loan Count 3,201
Number Of Loans Paid In Full 59
Ending Scheduled Collateral Loan Count 3,142
Beginning Scheduled Collateral Balance 522,792,584.23
Ending Scheduled Collateral Balance 511,681,202.79
Ending Actual Collateral Balance at 31-Oct-2005 511,823,370.27
Monthly P&I Constant 3,003,119.26
Special Servicing Fee 0.00
Prepayment Penalties 157,053.88
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Scheduled Principal 160,258.95
Unscheduled Principal 10,951,122.49
Required Overcollateralization Amount 0.00
Overcollateralized Increase Amount 0.00
Overcollateralized reduction Amount 143.56
Specified O/C Amount 4,182,340.67
Overcollateralized Amount 4,182,340.67
Overcollateralized Deficiency Amount 0.00
Base Overcollateralized Amount 0.00
Credit Enhancement Percentage: 22.988647%
Supplemental Trust Payment in respect of the Swap Agreement: $170,179.88
Group Level Collateral Statement
Group Gr. 1 - Sub Gr. 1 Gr. 1 - Sub Gr. 2 Gr. 2 - Sub Gr. 3
Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Fixed 15/30 & ARM
Weighted Average Coupon Rate 7.974048 6.559951 7.970052
Weighted Average Net Rate 7.474048 6.059951 7.470052
Weighted Average Maturity 283 355 263
Beginning Loan Count 491 1,559 310
Loans Paid In Full 9 23 5
Ending Loan Count 482 1,536 305
Beginning Scheduled Balance 28,778,263.14 228,505,453.66 29,735,331.57
Ending Scheduled Balance 28,255,398.86 224,279,330.45 29,435,127.15
Record Date 10/31/2005 10/31/2005 10/31/2005
Principal And Interest Constant 213,094.34 1,321,442.64 219,714.38
Scheduled Principal 21,861.63 72,288.81 22,220.94
Unscheduled Principal 501,002.65 4,153,834.40 277,983.48
Scheduled Interest 191,232.71 1,249,153.83 197,493.44
Servicing Fees 11,990.94 95,210.61 12,389.72
Master Servicing Fees 299.77 2,380.27 309.74
Trustee Fee 0.00 0.00 0.00
FRY Amount 0.00 0.00 0.00
Special Hazard Fee 0.00 0.00 0.00
Other Fee 359.73 2,856.32 371.69
Pool Insurance Fee 0.00 0.00 0.00
Spread 1 0.00 0.00 0.00
Spread 2 0.00 0.00 0.00
Spread 3 0.00 0.00 0.00
Net Interest 178,582.27 1,148,706.63 184,422.29
Realized Loss Amount 0.00 0.00 0.00
Cumulative Realized Loss 0.00 0.00 0.00
Percentage of Cumulative Losses 0.0000 0.0000 0.0000
Prepayment Penalties 0.00 0.00 0.00
Special Servicing Fee 0.00 0.00 0.00
Pass-Through Rate 7.446548 6.032451 7.442552
Group Level Collateral Statement
Group Gr. 2 - Sub Gr. 4 Total
Collateral Description Fixed 15/30 & ARM Mixed Fixed & Arm
Weighted Average Coupon Rate 6.132904 6.525403
Weighted Average Net Rate 5.632904 6.025403
Weighted Average Maturity 356 346
Beginning Loan Count 841 3,201
Loans Paid In Full 22 59
Ending Loan Count 819 3,142
Beginning Scheduled Balance 235,773,535.86 522,792,584.23
Ending scheduled Balance 229,711,346.33 511,681,202.79
Record Date 10/31/2005 10/31/2005
Principal And Interest Constant 1,248,867.90 3,003,119.26
Scheduled Principal 43,887.57 160,258.95
Unscheduled Principal 6,018,301.96 10,951,122.49
Scheduled Interest 1,204,980.33 2,842,860.31
Servicing Fees 98,238.97 217,830.24
Master Servicing Fees 2,455.97 5,445.75
Trustee Fee 0.00 0.00
FRY Amount 0.00 0.00
Special Hazard Fee 0.00 0.00
Other Fee 2,947.17 6,534.91
Pool Insurance Fee 0.00 0.00
Spread 1 0.00 0.00
Spread 2 0.00 0.00
Spread 3 0.00 0.00
Net Interest 1,101,338.22 2,613,049.41
Realized Loss Amount 0.00 0.00
Cumulative Realized Loss 0.00 0.00
Percentage of Cumulative Losses 0.0000 0.0000
Prepayment Penalties 0.00 0.00
Special Servicing Fee 0.00 0.00
Pass-Through Rate 5.605404 5.997903
Prepayment Detail - Prepayments during Current Period
Summary Loans Paid In Full Repurchased Loans
Original Current Original Current
Principal Principal Principal Principal
Group Count Balance Balance Count Balance Balance
<s> <c> <c> <c> <c> <c> <c>
Gr. 1 - Sub Gr. 1 9 499,488.00 497,440.89 0 0.00 0.00
Gr. 1 - Sub Gr. 2 23 4,147,057.00 4,142,779.61 0 0.00 0.00
Gr. 2 - Sub Gr. 3 5 277,855.00 276,633.73 0 0.00 0.00
Gr. 2 - Sub Gr. 4 22 6,012,007.00 6,008,542.85 0 0.00 0.00
Total 59 10,936,407.00 10,925,397.08 0 0.00 0.00
Prepayment Detail - Prepayments during Current Period (continued)
Summary Substitution Loans Liquidated Loans Curtailments
Original Current Original Current
Principal Principal Principal Principal Curtailment
Group Count Balance Balance Count Balance Balance Amount
<s> <c> <c> <c> <c> <c> <c> <c>
Gr. 1 - Sub Gr. 1 0 0.00 0.00 0 0.00 0.00 3,854.11
Gr. 1 - Sub Gr. 2 0 0.00 0.00 0 0.00 0.00 11,949.70
Gr. 2 - Sub Gr. 3 0 0.00 0.00 0 0.00 0.00 1,592.15
Gr. 2 - Sub Gr. 4 0 0.00 0.00 0 0.00 0.00 10,576.81
Total 0 0.00 0.00 0 0.00 0.00 27,972.77
Prepayment Loan Detail - Prepayments during Current Period
First Original
Loan LTV at Payment Principal Prepayment
Group Number State Origination Date Balance Amount
<s> <c> <c> <c> <c> <c> <c>
Gr. 1 - Sub Gr. 1 0110463331 IL 83.92 01-Jun-2005 214,000.00 213,208.25
Gr. 1 - Sub Gr. 1 0110474776 MD 100.00 01-Jun-2005 25,600.00 25,534.19
Gr. 1 - Sub Gr. 1 0110474794 AZ 100.00 01-May-2005 43,980.00 43,554.83
Gr. 1 - Sub Gr. 1 0110478687 MN 90.00 01-Jun-2005 22,000.00 21,509.88
Gr. 1 - Sub Gr. 1 0110478749 AZ 100.00 01-Jun-2005 28,480.00 28,387.33
Gr. 1 - Sub Gr. 1 0110488488 CA 100.00 01-Jun-2005 57,928.00 57,713.65
Gr. 1 - Sub Gr. 1 0110504352 CA 100.00 01-Jun-2005 50,000.00 49,864.47
Gr. 1 - Sub Gr. 1 0110557730 AZ 100.00 01-Jul-2005 38,800.00 38,717.24
Gr. 1 - Sub Gr. 1 0110584516 IA 100.00 01-Aug-2005 18,700.00 18,658.70
Gr. 1 - Sub Gr. 2 0110457136 MD 100.00 01-May-2005 200,800.00 200,800.00
Gr. 1 - Sub Gr. 2 0110463061 AZ 100.00 01-May-2005 130,866.00 129,825.38
Gr. 1 - Sub Gr. 2 0110472409 MS 100.00 01-May-2005 41,000.00 40,839.34
Gr. 1 - Sub Gr. 2 0110472423 MD 100.00 01-Jun-2005 102,400.00 102,400.00
Gr. 1 - Sub Gr. 2 0110474795 AZ 100.00 01-May-2005 175,920.00 174,645.87
Gr. 1 - Sub Gr. 2 0110476085 CA 100.00 01-Jun-2005 231,712.00 231,712.00
Gr. 1 - Sub Gr. 2 0110478727 MN 90.00 01-Jun-2005 176,000.00 175,754.19
Gr. 1 - Sub Gr. 2 0110478767 AZ 100.00 01-Jun-2005 113,920.00 113,920.00
Gr. 1 - Sub Gr. 2 0110478770 TX 100.00 01-Jun-2005 181,802.00 181,802.00
Gr. 1 - Sub Gr. 2 0110479017 CA 74.60 01-May-2005 235,000.00 235,000.00
Gr. 1 - Sub Gr. 2 0110502731 AZ 100.00 01-Jun-2005 137,208.00 137,208.00
Gr. 1 - Sub Gr. 2 0110527231 CA 85.00 01-Jul-2005 281,099.00 281,099.00
Gr. 1 - Sub Gr. 2 0110527259 CA 100.00 01-Jun-2005 338,164.00 338,164.00
Gr. 1 - Sub Gr. 2 0110534063 AZ 100.00 01-Jul-2005 155,200.00 155,200.00
Gr. 1 - Sub Gr. 2 0110535410 CA 100.00 01-Jul-2005 358,416.00 358,415.99
Gr. 1 - Sub Gr. 2 0110535438 WA 75.00 01-Jun-2005 103,500.00 103,097.14
Gr. 1 - Sub Gr. 2 0110543857 GA 100.00 01-Jun-2005 84,000.00 84,000.00
Gr. 1 - Sub Gr. 2 0110561262 FL 89.98 01-Jul-2005 165,100.00 165,100.00
Gr. 1 - Sub Gr. 2 0110576317 IA 100.00 01-Aug-2005 74,800.00 74,527.30
Gr. 1 - Sub Gr. 2 0110584404 CA 58.80 01-Jul-2005 294,000.00 294,000.00
Gr. 1 - Sub Gr. 2 0110594174 MI 50.41 01-Aug-2005 61,500.00 61,500.00
Gr. 1 - Sub Gr. 2 0110606150 MD 100.00 01-Aug-2005 223,400.00 222,605.06
Gr. 1 - Sub Gr. 2 0110765561 MD 75.00 01-Jul-2005 281,250.00 280,269.43
Gr. 2 - Sub Gr. 3 0110478706 AZ 95.00 01-Jun-2005 52,500.00 52,404.99
Gr. 2 - Sub Gr. 3 0110478789 WA 100.00 01-Jun-2005 38,930.00 38,829.91
Gr. 2 - Sub Gr. 3 0110502666 MD 100.00 01-Jul-2005 30,565.00 30,506.46
Gr. 2 - Sub Gr. 3 0110502876 WI 100.00 01-Jun-2005 43,860.00 43,790.88
Gr. 2 - Sub Gr. 3 0110504282 CA 100.00 01-Jun-2005 112,000.00 110,859.09
Gr. 2 - Sub Gr. 4 0110456382 CA 90.00 01-May-2005 386,000.00 386,000.00
Gr. 2 - Sub Gr. 4 0110457138 NV 100.00 01-Apr-2005 152,729.00 152,729.00
Gr. 2 - Sub Gr. 4 0110463088 CA 95.00 01-Apr-2005 360,000.00 360,000.00
Gr. 2 - Sub Gr. 4 0110465765 CA 90.00 01-May-2005 231,430.00 231,430.00
Gr. 2 - Sub Gr. 4 0110465811 CA 99.99 01-Jun-2005 363,850.00 363,477.24
Gr. 2 - Sub Gr. 4 0110465828 AZ 95.00 01-May-2005 258,000.00 258,000.00
Gr. 2 - Sub Gr. 4 0110474715 WA 100.00 01-Jun-2005 155,720.00 155,720.00
Gr. 2 - Sub Gr. 4 0110478728 AZ 95.00 01-Jun-2005 280,000.00 279,995.00
Gr. 2 - Sub Gr. 4 0110488459 CA 90.00 01-May-2005 441,560.00 441,489.17
Gr. 2 - Sub Gr. 4 0110502667 MD 100.00 01-Jul-2005 122,261.00 122,261.00
Gr. 2 - Sub Gr. 4 0110502877 WI 100.00 01-Jun-2005 175,440.00 174,703.59
Gr. 2 - Sub Gr. 4 0110504283 CA 100.00 01-Jun-2005 448,000.00 448,000.00
Gr. 2 - Sub Gr. 4 0110527210 CA 100.00 01-Jun-2005 279,480.00 279,480.00
Gr. 2 - Sub Gr. 4 0110537616 CA 99.98 01-Jul-2005 358,738.00 358,738.00
Gr. 2 - Sub Gr. 4 0110557400 CA 100.00 01-Aug-2005 345,010.00 344,926.67
Gr. 2 - Sub Gr. 4 0110561246 AZ 100.00 01-Aug-2005 188,476.00 188,476.00
Gr. 2 - Sub Gr. 4 0110564760 CA 100.00 01-Jul-2005 249,018.00 248,960.93
Gr. 2 - Sub Gr. 4 0110584622 AZ 100.00 01-Jul-2005 194,839.00 193,787.68
Gr. 2 - Sub Gr. 4 0110591393 TX 100.00 01-Aug-2005 315,000.00 314,056.08
Gr. 2 - Sub Gr. 4 0110591418 FL 95.00 01-Jul-2005 246,598.00 246,598.00
Gr. 2 - Sub Gr. 4 0110594177 CA 80.00 01-Aug-2005 312,900.00 311,938.79
Gr. 2 - Sub Gr. 4 0110606231 AZ 100.00 01-Aug-2005 146,958.00 146,958.00
Prepayment Loan Detail - Prepayments during Current Period (continued)
Current
Loan PIF Months Loan Original
Group Number Type Delinquent Rate Term Seasoning
<s> <c> <c> <c> <c> <c> <c>
Gr. 1 - Sub Gr. 1 0110463331 Loan Paid in Full 0 8.500% 360 5
Gr. 1 - Sub Gr. 1 0110474776 Loan Paid in Full 0 10.250% 180 5
Gr. 1 - Sub Gr. 1 0110474794 Loan Paid in Full 0 8.500% 180 6
Gr. 1 - Sub Gr. 1 0110478687 Loan Paid in Full 0 9.300% 180 5
Gr. 1 - Sub Gr. 1 0110478749 Loan Paid in Full 0 9.125% 180 5
Gr. 1 - Sub Gr. 1 0110488488 Loan Paid in Full 0 8.500% 180 5
Gr. 1 - Sub Gr. 1 0110504352 Loan Paid in Full 0 10.000% 240 5
Gr. 1 - Sub Gr. 1 0110557730 Loan Paid in Full 0 10.250% 180 4
Gr. 1 - Sub Gr. 1 0110584516 Loan Paid in Full 0 9.000% 180 3
Gr. 1 - Sub Gr. 2 0110457136 Loan Paid in Full 0 6.500% 360 6
Gr. 1 - Sub Gr. 2 0110463061 Loan Paid in Full 0 5.375% 360 6
Gr. 1 - Sub Gr. 2 0110472409 Loan Paid in Full 0 8.990% 360 6
Gr. 1 - Sub Gr. 2 0110472423 Loan Paid in Full 0 7.000% 360 5
Gr. 1 - Sub Gr. 2 0110474795 Loan Paid in Full 0 5.875% 360 6
Gr. 1 - Sub Gr. 2 0110476085 Loan Paid in Full 0 5.500% 360 5
Gr. 1 - Sub Gr. 2 0110478727 Loan Paid in Full 0 6.250% 360 5
Gr. 1 - Sub Gr. 2 0110478767 Loan Paid in Full 0 6.750% 360 5
Gr. 1 - Sub Gr. 2 0110478770 Loan Paid in Full 0 6.000% 360 5
Gr. 1 - Sub Gr. 2 0110479017 Loan Paid in Full 0 6.625% 360 6
Gr. 1 - Sub Gr. 2 0110502731 Loan Paid in Full 0 6.250% 360 5
Gr. 1 - Sub Gr. 2 0110527231 Loan Paid in Full 0 7.750% 360 4
Gr. 1 - Sub Gr. 2 0110527259 Loan Paid in Full 0 5.500% 360 5
Gr. 1 - Sub Gr. 2 0110534063 Loan Paid in Full 0 5.750% 360 4
Gr. 1 - Sub Gr. 2 0110535410 Loan Paid in Full 0 4.875% 360 4
Gr. 1 - Sub Gr. 2 0110535438 Loan Paid in Full 0 8.250% 360 5
Gr. 1 - Sub Gr. 2 0110543857 Loan Paid in Full 0 6.750% 360 5
Gr. 1 - Sub Gr. 2 0110561262 Loan Paid in Full 0 7.875% 360 4
Gr. 1 - Sub Gr. 2 0110576317 Loan Paid in Full 0 6.500% 360 3
Gr. 1 - Sub Gr. 2 0110584404 Loan Paid in Full 0 6.875% 360 4
Gr. 1 - Sub Gr. 2 0110594174 Loan Paid in Full 0 8.500% 360 3
Gr. 1 - Sub Gr. 2 0110606150 Loan Paid in Full 0 6.625% 360 3
Gr. 1 - Sub Gr. 2 0110765561 Loan Paid in Full 0 7.875% 360 4
Gr. 2 - Sub Gr. 3 0110478706 Loan Paid in Full 0 11.875% 180 5
Gr. 2 - Sub Gr. 3 0110478789 Loan Paid in Full 0 10.250% 180 5
Gr. 2 - Sub Gr. 3 0110502666 Loan Paid in Full 0 10.750% 180 4
Gr. 2 - Sub Gr. 3 0110502876 Loan Paid in Full 0 12.500% 180 5
Gr. 2 - Sub Gr. 3 0110504282 Loan Paid in Full 0 8.500% 240 5
Gr. 2 - Sub Gr. 4 0110456382 Loan Paid in Full 0 6.125% 360 6
Gr. 2 - Sub Gr. 4 0110457138 Loan Paid in Full 0 5.500% 360 7
Gr. 2 - Sub Gr. 4 0110463088 Loan Paid in Full 0 6.500% 360 7
Gr. 2 - Sub Gr. 4 0110465765 Loan Paid in Full 0 6.250% 360 6
Gr. 2 - Sub Gr. 4 0110465811 Loan Paid in Full 0 5.500% 360 5
Gr. 2 - Sub Gr. 4 0110465828 Loan Paid in Full 0 5.000% 360 6
Gr. 2 - Sub Gr. 4 0110474715 Loan Paid in Full 0 6.250% 360 5
Gr. 2 - Sub Gr. 4 0110478728 Loan Paid in Full 0 7.250% 360 5
Gr. 2 - Sub Gr. 4 0110488459 Loan Paid in Full 0 5.625% 360 6
Gr. 2 - Sub Gr. 4 0110502667 Loan Paid in Full 0 7.250% 360 4
Gr. 2 - Sub Gr. 4 0110502877 Loan Paid in Full 0 7.875% 360 5
Gr. 2 - Sub Gr. 4 0110504283 Loan Paid in Full 0 6.375% 360 5
Gr. 2 - Sub Gr. 4 0110527210 Loan Paid in Full 0 5.750% 360 5
Gr. 2 - Sub Gr. 4 0110537616 Loan Paid in Full 0 5.750% 360 4
Gr. 2 - Sub Gr. 4 0110557400 Loan Paid in Full 0 6.375% 360 3
Gr. 2 - Sub Gr. 4 0110561246 Loan Paid in Full 0 6.625% 360 3
Gr. 2 - Sub Gr. 4 0110564760 Loan Paid in Full 0 5.500% 360 4
Gr. 2 - Sub Gr. 4 0110584622 Loan Paid in Full 0 5.625% 360 4
Gr. 2 - Sub Gr. 4 0110591393 Loan Paid in Full 0 7.500% 360 3
Gr. 2 - Sub Gr. 4 0110591418 Loan Paid in Full 0 7.125% 360 4
Gr. 2 - Sub Gr. 4 0110594177 Loan Paid in Full 0 7.375% 360 3
Gr. 2 - Sub Gr. 4 0110606231 Loan Paid in Full 0 7.250% 360 3
Prepayment - Voluntary Prepayments
Summary
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 2.095% Current Month 22.440% Current Month 2,508.492%
3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000%
CPR: Current vs 12mo Average* PSA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 N/A N/A Sep-2005 N/A N/A
Oct-2005 N/A N/A Oct-2005 N/A N/A
Nov-2005 22.440% N/A Nov-2005 2,508.492% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
Gr. 1 - Sub Gr. 1
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 1.742% Current Month 19.015% Current Month 1,998.027%
3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000%
CPR: Current vs 12mo Average* PSA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 N/A N/A Sep-2005 N/A N/A
Oct-2005 N/A N/A Oct-2005 N/A N/A
Nov-2005 19.015% N/A Nov-2005 1,998.027% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
Gr. 1 - Sub Gr. 2
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 1.818% Current Month 19.766% Current Month 2,192.294%
3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000%
CPR: Current vs 12mo Average* PSA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 N/A N/A Sep-2005 N/A N/A
Oct-2005 N/A N/A Oct-2005 N/A N/A
Nov-2005 19.766% N/A Nov-2005 2,192.294% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
Gr. 2 - Sub Gr. 3
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 0.936% Current Month 10.667% Current Month 1,137.341%
3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000%
CPR: Current vs 12mo Average* PSA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 N/A N/A Sep-2005 N/A N/A
Oct-2005 N/A N/A Oct-2005 N/A N/A
Nov-2005 10.667% N/A Nov-2005 1,137.341% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
Gr. 2 - Sub Gr. 4
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 2.553% Current Month 26.681% Current Month 3,048.819%
3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000%
CPR: Current vs 12mo Average* PSA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 N/A N/A Sep-2005 N/A N/A
Oct-2005 N/A N/A Oct-2005 N/A N/A
Nov-2005 26.681% N/A Nov-2005 3,048.819% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
<FN>
Calculation Methodology:
Single Month Mortality (SMM): (Partial and full prepayments + Repurchases) / (Beginning Scheduled Balance - Scheduled
Principal)
Conditional PrePayment Rate (CPR): 1 - ((1 - SMM)^12)
PSA Standard Prepayment Model: 100 * CPR / (0.2 * MIN(30,WAS))
Weighted Average Seasoning (WAS): sum((Original Term - Remaining Term)*(Current Scheduled Balance/Deal Scheduled Principal
Balance))
</FN>
Realized Loss Detail Report - Loans with Losses during Current Period
Summary
# Loans Prior Realized Current
with Principal Loss/(Gain) Loss
Group Losses Balance Amount Percentage
<s> <c> <c> <c> <c>
Gr. 1 - Sub Gr. 1 0 0.00 0.00 0.000%
Gr. 1 - Sub Gr. 2 0 0.00 0.00 0.000%
Gr. 2 - Sub Gr. 3 0 0.00 0.00 0.000%
Gr. 2 - Sub Gr. 4 0 0.00 0.00 0.000%
Total 0 0.00 0.00 0.000%
Realized Loss Loan Detail Report - Loans With Losses during Current Period
Original Current
Loan Principal Note LTV at Original
Group Number Balance Rate State Origination Term
<s> <c> <c> <c> <c> <c> <c>
No losses this period.
Realized Loss Loan Detail Report - Loans With Losses during Current Period (continued)
Prior Cumulative
Loan Principal Realized Realized
Group Number Balance Loss/(Gain) Loss/(Gain)
<s> <c> <c> <c> <c>
No losses this period.
Realized Loss Report - Collateral
Summary
MDR SDA
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
MDR: Current vs 12mo Average* SDA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 N/A N/A Sep-2005 N/A N/A
Oct-2005 N/A N/A Oct-2005 N/A N/A
Nov-2005 0.000% N/A Nov-2005 0.000% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
CDR Loss Severity Approximation
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
CDR: Current vs 12mo Average* Loss Severity: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 N/A N/A Sep-2005 N/A N/A
Oct-2005 N/A N/A Oct-2005 N/A N/A
Nov-2005 0.000% N/A Nov-2005 0.000% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
Gr. 1 - Sub Gr. 1
MDR SDA
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
MDR: Current vs 12mo Average* SDA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 N/A N/A Sep-2005 N/A N/A
Oct-2005 N/A N/A Oct-2005 N/A N/A
Nov-2005 0.000% N/A Nov-2005 0.000% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
CDR Loss Severity Approximation
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
CDR: Current vs 12mo Average* Loss Severity: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 N/A N/A Sep-2005 N/A N/A
Oct-2005 N/A N/A Oct-2005 N/A N/A
Nov-2005 0.000% N/A Nov-2005 0.000% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
Gr. 1 - Sub Gr. 2
MDR SDA
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
MDR: Current vs 12mo Average* SDA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 N/A N/A Sep-2005 N/A N/A
Oct-2005 N/A N/A Oct-2005 N/A N/A
Nov-2005 0.000% N/A Nov-2005 0.000% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
CDR Loss Severity Approximation
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
CDR: Current vs 12mo Average* Loss Severity: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 N/A N/A Sep-2005 N/A N/A
Oct-2005 N/A N/A Oct-2005 N/A N/A
Nov-2005 0.000% N/A Nov-2005 0.000% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
Gr. 2 - Sub Gr. 3
MDR SDA
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
MDR: Current vs 12mo Average* SDA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 N/A N/A Sep-2005 N/A N/A
Oct-2005 N/A N/A Oct-2005 N/A N/A
Nov-2005 0.000% N/A Nov-2005 0.000% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
CDR Loss Severity Approximation
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
CDR: Current vs 12mo Average* Loss Severity: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 N/A N/A Sep-2005 N/A N/A
Oct-2005 N/A N/A Oct-2005 N/A N/A
Nov-2005 0.000% N/A Nov-2005 0.000% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
Gr. 2 - Sub Gr. 4
MDR SDA
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
MDR: Current vs 12mo Average* SDA: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 N/A N/A Sep-2005 N/A N/A
Oct-2005 N/A N/A Oct-2005 N/A N/A
Nov-2005 0.000% N/A Nov-2005 0.000% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
CDR Loss Severity Approximation
<s> <c> <s> <c>
Current Month 0.000% Current Month 0.000%
3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000%
CDR: Current vs 12mo Average* Loss Severity: Current vs 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Dec-2004 N/A N/A Dec-2004 N/A N/A
Jan-2005 N/A N/A Jan-2005 N/A N/A
Feb-2005 N/A N/A Feb-2005 N/A N/A
Mar-2005 N/A N/A Mar-2005 N/A N/A
Apr-2005 N/A N/A Apr-2005 N/A N/A
May-2005 N/A N/A May-2005 N/A N/A
Jun-2005 N/A N/A Jun-2005 N/A N/A
Jul-2005 N/A N/A Jul-2005 N/A N/A
Aug-2005 N/A N/A Aug-2005 N/A N/A
Sep-2005 N/A N/A Sep-2005 N/A N/A
Oct-2005 N/A N/A Oct-2005 N/A N/A
Nov-2005 0.000% N/A Nov-2005 0.000% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
<FN>
</FN>
<FN>
Calculation Methodology:
Monthly Default Rate (MDR): sum(Beg Principal Balance of Liquidated Loans)/ sum(Beg Principal Balance).
Conditional Default Rate (CDR): 1-((1-MDR)^12)
SDA Standard Default Assumption: If WAS is less than or equal to 30 then CDR/(WAS*0.02) else if WAS is greater than 30 and
less than or equal to 60 then CDR/0.6 else if WAS is greater than 60 and less than or equal to 120 then CDR/(0.6 -
((WAS-60)*0.0095)) else if WAS is greater than 120 then CDR/0.03
Loss Severity Approximation for current period: sum(Realized Loss Amount)/sum(Beg Principal Balance of Liquidated Loans)
</FN>